Caretaking in The Invisible Heart: Folbre's Corrective to Smith's Individualism Grace E Cornelius College

Adam Smith, an 18th century economist, coined the term “Invisible Hand” as a metaphor for the unseen forces that move the free market economy. In Mr. Smith’s opinion, it is beneficial for individuals to pursue their own interests, as he believes it will benefit the society as a whole in the end. 200 years later, Nancy Folbre invented the term “invisible heart” as a response to Smith’s invisible hand. Folbre writes, “The invisible hand represents the forces of supply and demand in competitive markets. The invisible heart represents family values of love, obligation, and reciprocity. The invisible hand is about achievement. The invisible heart is about care for others.” While the hand deals with the economics of the free market, the heart deals with America’s care system for the elderly, sick, disabled, and young. Unfortunately, the invisible heart is often overlooked and under appreciated in America. Many caretakers are underpaid for their work, even as the price of care increases. Nancy Folbre’s book, “The Invisible Heart”, outlines the importance of family values in America, as well as the economic and social problems associated with caretaking.

The Evolution of the Invisible Heart

In Nancy Folbre’s opinion, caring labor is...